Dell's founder and CEO tweets about Bitcoin again, raising its price
Bitcoin price broke above the falling wedge pattern, suggesting a bullish trend.
Bitcoin is again tweeted by Dell founder and CEO Michael Dell. On-chain data shows miners' selling activity reducing, indicating bullish momentum.
BTC financing rates and open interest are rising. Bitcoin (BTC) broke above the falling wedge formation on Monday and traded 1% higher at $63,400. On-chain data indicates miners selling less, positive financing rates, and rising open interest, anticipating price rises in the coming days.
On Saturday, Dell founder and CEO Michael Dell started a Twitter poll where respondents picked "AI," "Bitcoin," "love and relationships," or "none of the above" as the most important thing. Dell's engagement highlights Bitcoin's enduring social curiosity, with 43.1% of 64,035 votes going to "Bitcoin". The survey on X shows Bitcoin's continued appeal among digital-age fans, particularly crypto-centric ones, amid discussions on AI, love, and innovation. A comparable poll on a different platform will likely provide different results according to user demographics and interests.
Technical analysis: BTC breaks falling wedge. Bitcoin price broke above the falling wedge on Monday and rose 1% to $63,400.
BTC might increase 5% to retest its weekly barrier at $67,147 if it closes over $63,956 daily resistance.
The daily chart's RSI and Awesome Oscillator are below 50 and zero. If bulls are returning, both momentum indicators must rise over neutral.
BTC may advance 6% to retest weekly resistance at $71,280 if bulls are active and the crypto market is upbeat.
If BTC closes below $58,375 and makes a lower daily low, negative sentiment may prevail. Bitcoin's price may drop 3% to $56,522, its May 1 low.
